Opening A Bank Account In Thailand

[robertcox]

Hello,

I'm planning to retire in Thailand in the near future. I'm from the US. I'm wondering about the best way of opening a bank account in Thailand. Does the Bank of Thailand have a branch in LA or somwhere? Does Bank of America have a branch in thailand--or some other US bank? What is the best way of handling the issue of establishing a bank account in Thailand, which is a reqirement for obtaining the retirement visa, of course. Thanks. Robert

[dr_Pat_Pong]

Frankly Robert, I think you'll find it easier to do it once you arrive here. Then have your US bank TT the funds you want direct to the new account.

[dlfisher]

Just for information purposes though, Thai Farmers Bank has a branch in Los Angeles, downtown. You can find it via yahoo for sure

[TRIPxCORE]

Does the Bank of Thailand have a branch in LA or somwhere?

Well sir, the Bank of Thailand is the central bank of the whole country. Similar to our US Federal Reserve. So I dont think you want to be looking for that place to open an account in. If you want a bank account inside the country of Thailand, you must open the account there. I contacted one of the Thai banks that had a branch in the US and was told they cannot open accounts. Bank of America and Citibank are located in Thailand. Not sure if you must be there to open the account with them. Just go to Bangkok Bank in Thailand somewhere and you can quickly open an easy savings account. I just did it about one month ago and only had to show my passport.

[lopburi3]

Before you leave the US file a wire transfer agreement with your bank (if not already done) and set up password for phone transfers. After you open an account here at any of the hundreds of branches of a dozen banks you can phone back to make a wire transfer. American banks are not customer friendly or available at multi locations (they want high value accounts only). It only takes about 500 baht to open a passbook savings account (checking is not available and not needed for those retired).

[KevinN]

I have heard about wire transfers and other ways of getting money transfered from a US bank to a Thai bank,but I have never been able to do it,I even tried to open a citibank acct. in BKK and so they would transfer money,and they told me that they would not do it.and I have been advised to have the wires done by SWIFT money transfer,but that is very spendy.

When I wanted to open an acct. here I just went to Siam Commercial Bank and handed then my passport and 5000 baht,they gave me a pass book and an ATM card and said thank you.

From my bank in the USA I have a Visa Check/ATM card,which my bank gave me free of charge,and when I want to transfer money,I give them my Siam ATM and my american Visa check/ATM card and transfer the money that very second and it costs me 60 baht service fee. In reality,all you are doing is writing an electronic check on your US acct.and depositing the money in your Thai acct. But the money is there NOW instead of 30 days for the paper check to clear plus the fee. and you can use your US ATM card at any ATM here just as well and Thai banks do not charge a service fee like all US banks.

So when you get here,do not worry about it,everything is fairly easy.